Pace Four, Casstar ASBESTOS CoRPORATION LIMITED

stock of which Cassiar owns 723,000 shares and holds an option to purchase the remaining 27,000
shares for a total consideration of $47,000. An action commenced in the B.C. Courts by Felix
Letain to recover title to the property was dismissed. An appeal of the decision of the Court is
pending. In the opinion of Counsel the appeal will also fail. Limited work to date on the
property has indicated the occurrence of good quality chrysotile fibre but further work will be
required to determine its extent. Work was carried out during the year on the Caley property

as reported by the General Manager and the option on this property has been abandoned.

During the year, the company’s transport division continued trucking the company’s
products from Cassiar to Whitehorse and back-hauling supplies and oil required by the company.
The efficiency of this operation has been well maintained. During the year the British Columbia
Government introduced regulations affecting load limitations which has resulted in increased

cost of trucking over the B.C. portion of the Highway.

The Board expresses its appreciation of the loyal and efficient services rendered the
company by Mr. J. D. Christian, General Manager, Mr. N. F. Murray, General Superintendent,
and Mr. N. Gritzuk, Manager of the Transport Division and their staffs.

On behalf of the Board,

F. M. CONNELL,
President.

Toronto, Ontario,

December 18, 1959.